by Jonathan P-Wright | Nov 10, 2023 | Business News, Latest |
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Spotify, the renowned music streaming platform, has recently made a significant stride in enhancing its user offerings. A mere month after the announcement of introducing a selection of audiobooks as part of its Premium subscription, the company is now extending this service to its U.S. user base for the first time.
A Progressive Leap
This expansion grants Premium subscribers 15 hours of monthly audiobook listening time, a notable rise from the initial 150,000 titles in the U.K. and Australia to a vast catalog of 200,000 titles. This move is a clear sign of Spotify’s commitment to diversifying its content and catering to the evolving preferences of its users. Spotify first ventured into the realm of audiobooks in September 2022, following its acquisition of Findaway, a digital audiobook distributor, in 2021. The company debuted with a catalog of approximately 300,000 titles for U.S. users, later extending its reach to other English-speaking markets. Canada was added to the list in early 2023.
apping into a Growing Market
Spotify has acknowledged the potential of tapping into the growing market of audiobooks. Even though audiobooks currently hold a 6% to 7% share of the broader book market, the category is witnessing a 20% year-over-year growth. This growth is majorly driven by Gen Z and millennials, with 72% of 18- to 34-year-olds indulging in audiobook listening.
Initially, accessing Spotify’s audiobooks was a somewhat complex process, primarily due to the company’s reluctance to share commissions with app stores on in-app purchases. Users had to purchase titles individually via Spotify’s website before listening to them in-app. However, the introduction of a certain number of hours in the Premium subscription has streamlined this process, enabling users to select a book and start listening with a single click. Users desiring more time can opt for an additional 10 hours by purchasing a “top-off.”
Discoverability and Content Diversity
Spotify has ensured easy discoverability of its audiobooks. They can be found on the app’s Home feed or by searching for a specific title. A curated selection of popular titles is also available for browsing in the app’s audiobook hub.
Notable titles include recent releases like Britney Spears’ “The Woman in Me” and Jesmyn Ward’s “Let Us Descend,” alongside works by renowned authors such as Janet Evanovich, John Grisham, Stephen King, Colleen Hoover, and musical artists like Willie Nelson and Dave Grohl.
The platform boasts over 70% of bestselling titles, encompassing books from the big five publishers as well as independent publishers and authors. The titles span across various genres and include classics like Emily Brontë’s “Wuthering Heights.”
Spotify’s Continued Growth
In its most recent quarter, Spotify reported a 16% year-over-year growth in paying subscribers, now totaling 226 million. Its monthly active users saw a 26% increase, reaching 574 million, surpassing the company’s forecast by 2 million. Revenue also rose by 11% year-over-year to €3.4 billion ($3.63 billion USD), aided by recent price hikes. This development heralds a promising upswing for Spotify, underlining its forward-thinking strategy and commitment to user satisfaction. The inclusion of audiobooks in its Premium subscription not only broadens its content spectrum but also positions it favorably to tap into the burgeoning audiobook market.
by Jesse Swindell | Nov 10, 2023 | Business News, Latest |
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SiriusXM, a leading audio entertainment company, recently made a series of significant announcements at its “Next Generation” event held in New York. The most notable was the unveiling of its revamped streaming app, designed to offer an enhanced user experience with an array of advanced features. This move signifies SiriusXM’s strategic shift to cater to the changing consumption patterns and preferences of the younger generation.
A New Era for SiriusXM
The newly innovated SiriusXM app is set to launch on December 14 on iOS, Android, and Amazon Fire devices, with further rollouts planned for additional platforms in early 2024.The redesigned SiriusXM app aims to provide a “lean-back,” user-friendly streaming experience that prioritizes content discovery. In addition to the app revamp, SiriusXM also unveiled its new logo and mascot. The new logo features the letter ‘S’ with a star in the center, symbolizing SiriusXM’s commitment to “embracing the stars” and its “promise to bring listeners closer.” The company also introduced its cute puppy mascot named Stella. Furthermore, SiriusXM launched an online store where fans can purchase SiriusXM-branded merchandise, enhancing the brand’s visibility and reach.
Catering to the Younger Demographics
SiriusXM’s redesigned app is a strategic move to reach younger generations who have notably moved away from traditional radio. To allure this demographic, the company is introducing new guest DJ channel takeovers from more than 160 artists, including Gen Z pop star Olivia Rodrigo, Cardi B, Luke Combs, Alice Cooper, and more. SiriusXM is adding a variety of new channels and shows to its content library, hosted and curated by famous personalities such as Kelly Clarkson, John Mayer, James Corden, and Shaggy, among others.
Looking Ahead
SiriusXM has big plans for the upcoming year, including a distribution relationship with Amazon-owned Audible and an expanded agreement with automotive brand Polestar. These partnerships symbolize SiriusXM’s intent to broaden its reach and cater to a wider audience.n the competitive landscape of digital audio entertainment, SiriusXM’s new streaming app and strategic partnerships appear to be a promising attempt to regain lost ground and attract new users. However, only time will tell if these efforts will help SiriusXM compete with industry giants like Spotify and Apple Music.
by Laghe Andrews | Nov 10, 2023 | Business News, Latest |
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Lyft, a leading ride-hailing company, is introducing a more affordable, high-end ride option as part of its strategy to appeal to customers’ preferences. This initiative was announced by CEO David Risher during the company’s third-quarter earnings call. The decision follows Lyft’s success in recapturing a portion of the market from its major competitor, Uber, by reducing its ride-hail fares.
Market Growth
In the third quarter, Lyft reported an increase in active riders to 22.4 million, up from 21.5 million in the second quarter. This growth was accompanied by an increase in gross bookings to around $3.6 million. With new riders onboard, Lyft’s next challenge is to retain these customers.
The “Extra Comfort” Strategy
Risher introduced “Extra Comfort,” a new product he believes could tap into a small segment of Lyft’s ride volume with the potential for growth. Extra Comfort offers a more luxurious ride option, with newer cars, more experienced drivers, and more legroom. Users also have the option to choose a quiet ride. This feature is currently available in most parts of the country and is expected to expand further.Risher likened Extra Comfort to Economy Plus tickets offered by airlines, a product he referred to as a “crazy profit driver.” This upgraded experience aims to provide Lyft with a higher margin product to deliver slightly better economics.
Lyft’s Shift in Focus
This new product aligns with Risher’s goal for Lyft to prioritize higher-quality products. This entails moving away from shared rides, which Risher believes do not offer a great product for either drivers or riders.
Instead, Lyft is focusing on products like Wait and Save, which offers customers a cheaper fare in exchange for a more flexible pickup time. The company is also promoting its scheduled rides product, which comes at a premium price. Risher also emphasized Lyft’s “strong commitment to reliability,” especially for those who use the reserved rides feature for airport runs. The aim of these features is to set Lyft apart as a unique ride-hail product. However, the challenge here is that Uber is already offering many of these features at a larger scale. The competition between Lyft and Uber is tight, with both companies striving to innovate and offer the best services to their customers.
Future Plans
Lyft plans to continue innovating and improving its services. The company believes that by offering high-quality, comfortable rides, it can attract and retain more customers, thereby increasing its market share. Lyft’s new strategy of prioritizing comfort over shared rides signifies a shift in the ride-hailing market. It remains to be seen how this will impact the competition with Uber and whether riders will embrace these changes.
by Jonathan P-Wright | Nov 10, 2023 | Business News, Latest |
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Amazon, the e-commerce giant, is altering its grocery delivery model in a bid to stay competitive in the rapidly evolving online grocery landscape. The company’s revised strategy for its grocery service, Amazon Fresh, could prove to be a significant turning point in the industry.
A Shift Towards Inclusivity
Amazon has announced changes to its grocery delivery service, Amazon Fresh, aiming to make it more competitive with rivals like Instacart, Walmart, Target-owned Shipt, and DoorDash. The most significant alteration? Customers no longer need an Amazon Prime membership to order groceries for delivery or free pickup from Amazon Fresh.
This move allows non-Prime members to avail themselves of Amazon Fresh’s services, giving the company a broader customer base. It is expected to roll out in locations across the U.S., where Amazon Fresh is offered, and soon, a similar option will be made available to Whole Foods shoppers.
Expanded Service and Delivery Options
According to the company, once this expansion phase is completed, customers in more than 3,500 U.S. cities and towns will have the option of ordering two-hour grocery delivery from either Amazon Fresh or Whole Foods Market, depending on availability.
In addition to this, Amazon shoppers can now order from local grocers and specialty shops through the Amazon website. These include stores like Bristol Farms, Cardenas Markets, Pet Food Express, Weis Markets, and Save Mart.
Pricing and Discounts
While Amazon Fresh is not a free service, even for Prime members, Amazon’s membership program will offer several discounts. For example, Fresh orders over $100 will still be free if you have a Prime membership, and won’t include a delivery fee. Meanwhile, two-hour deliveries will include a service fee of $6.95 for orders ranging from $50-$100, and $9.95 for deliveries under $50, for Prime members.
Non-members will be charged between $7.95-$13.95 depending on their basket size and the delivery window selected. Flexible orders with delivery times of up to six hours may also receive a fee reduction, while rushed orders may include additional fees.
Grocery Pickup and More
For grocery pickup with Amazon Fresh, the company offers stores in California, Illinois, Maryland, New Jersey, New York, Pennsylvania, Virginia, Washington, D.C., and Washington State. Some of these stores will also offer Amazon’s cashierless payment option, Just Walk Out where customers pay with a palm reader.
Both Amazon Fresh stores and Whole Foods Market locations can also be used for package pickup and return for Amazon.com orders, and those using this service in Fresh stores will receive coupons to use in-store.
The Bigger Picture: Amazon’s Grocery Market Position
This significant move of broadening Amazon’s grocery reach is indicative of how far Amazon has fallen behind in the broader online grocery market. Operating different grocery brands has led to consumer confusion — particularly in markets where both services are available with their own unique product selections.
by Pharron Fields | Nov 10, 2023 | Latest, Music News |
Fresh from a stellar contribution to M Huncho’s acclaimed mixtape My Neighbours Don’t Know, Steve Drive, an emerging rapper from Woolwich, is set to fulfil his potential with his latest release, Super Trapstar. Steve Drive’s journey to stardom has been nothing short of inspiring. His commitment to improving his life and honing his artistry is evident in his music.
The Influence of M Huncho
M Huncho, a prominent figure in the music scene, has played a significant role in Steve Drive’s burgeoning career. The success of their collaborative effort on My Neighbours Don’t Know mixtape has set the stage for Steve Drive’s solo project. Super Trapstar is the first taste of Steve Drive’s upcoming debut mixtape. The track is a testament to his lyrical prowess and musical innovation.
The production of Super Trapstar is a collaborative effort between Cage, Phil2k, and Macshooter49. Their combined expertise has resulted in a track that resonates with fans of M Huncho and beyond. The anticipation for Steve Drive’s debut mixtape is palpable. If Super Trapstar is any indication, the project promises to be a game-changer in the music industry.
“Submerged in Auto-Tune and bolstered by the lurching, bassy production, Steve Drive’s vocals take on an almost mechanical quality as he speaks on his journey and the lengths he’s had to go to improve his situation.” The reception to Super Trapstar has been overwhelmingly positive, with fans praising Steve Drive’s unique sound and authentic storytelling.
Conclusion
With the success of Super Trapstar, Steve Drive is poised for a bright future in the music industry. As we eagerly await his debut mixtape, one thing is certain – Steve Drive is a force to reckon with. In a world where individuality is celebrated, Steve Drive stands out. His story, his music, and his relentless drive make him an artist to watch. As he continues to make waves with Super Trapstar, we look forward to seeing what’s next for this rising star.
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